The US Debt Ceiling Crisis Explained in plain English

While a deal to avoid defaulting on the US's debt passed the House and the Senate - learn why there is a debt ceiling in the first place (it's over 100 years old), and how it's now been weaponized into a tool it was never intended to be.
In this video, we take a deep dive into the never ending issue of the United States debt ceiling. If you've been hearing a lot about the U.S. debt crisis and wondering what it all means, this is your go-to resource. From understanding the difference between deficit and debt to exploring the implications of a potential default on the global economy, we cover it all.
My name is Preet, and I'm a consultant to the wealth management industry, and I specialize in distilling complex financial matters down to eye-level.
Here's what you'll learn:
1️⃣ What's happening with the US Debt Ceiling right now?
2️⃣ What is a debt ceiling and why does it matter?
3️⃣ The history of the US debt ceiling - from World War I to today
4️⃣ Political standoffs that have threatened the ability of the US to make payments on its debt
5️⃣ What could happen if the US defaulted on its debt?
💡 Get ready to gain insights that can help you better understand the financial world around us. If you want to be financially savvy, this video is a must-watch!
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🔖 Keywords: #USDebtCeiling #DebtCrisis #GlobalRecession #USDebt #FinancialLiteracy #MoneyManagement
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ABOUT ME: I've hosted a personal finance TV show on the Oprah Winfrey Network, used to be a stockbroker, went to school to become a racecar driver (failed), founded a fintech company that provides financial planning software to financial advisors who want to help more people who don't have lots of money, and I consult with wealth management companies on commercializing applications of behavioral finance. I'm also quite fond of donuts.
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[@augustinalawson6373]

Thanks for this thorough explanation. I am better informed.

[@PreetBanerjee]

You’re very welcome!

[@niksterfer6sir]

Can you do a video on how we can lend money to other countries while in debt. I’m not even trying to be funny, I’m genuinely curious on how we can do that.

[@PreetBanerjee]

I’m not sure if it needs a full video but perhaps a shorts video would do the trick. I’ll see if I can knock that out next week.

[@cherylhurst]

Great video as always preet 🎉

[@CARL_093]

thanks bro its very informative

[@anonymous1432341]

Heyyyy! Preet is back! Welcome back man. Great video as usual.

[@PreetBanerjee]

Thank you!

[@PreetBanerjee]

I had Midjourney help make that thumbnail. So aggresive! lol

[@cherylhurst]

Looks like a Gerard butler film shot

[@PreetBanerjee]

@@cherylhurst “Treasury has fallen”

[@littleninjai222]

Another great one! Thanks Preet! Congratulations on your marriage and move. All the best to you and continued success. Sad to lose another stellar Canadian abroad.

[@PreetBanerjee]

Thank you so much! But I think I’ll be back quite often. I think I’ve been back four times since December lol Most of my work is still in Canada and the US.

[@mariavimacueto9203]

Been waiting for this. I knew you'd make one 🤗 Thanks Preet for another very timely and informative video. 💯

[@PreetBanerjee]

You are very welcome!

[@wealthiness]

Just gives us time to prepare for the eventual crash of the dollar

[@PreetBanerjee]

When do you think that will happen?

[@wealthiness]

@@PreetBanerjee maybe within this decade, they can't continue their print and play with interest rates game forever

[@a.i1970]

1 Trillion Pounds Of Home Grown, Legal Weed Sold In America At $50 A Pound, Equals How Much?😌 Exactly🤗 & U Know You Ain't Gettin A Pound Of Weed For 50$🤨 So Problem Solved 😎👌